Introducing broker (in stocks)

Discussion in 'Retail Brokers' started by RomanS, May 10, 2007.

  1. RomanS


    Let's say I wanted to set up a website that allowed users to trade stocks. I would provide extra value through various services, but would rather not deal with setting up a back-end brokerage system. What are my options?

    So far the only option I have come up with is Interactive Brokers. I could probably use their API to execute the customer orders. Are there comparable API's from other online brokers?

    What kind of an account would I need to set up with IB - an Introducing Broker account, or a Financial Advisor account? Are there any gotchas that I should consider?

    Thanks for your help!
  2. RomanS


    Surely somebody has an answer to at least the first question? Or am I asking in the wrong section?
  3. Bell


    You must be a licensed broker or FA in order to set up this business. Since you're asking these questions you're probably not the one :) I think you could try to approach some pro firms, offer them your services and evaluate options.